Comments on: My Diigo Bookmarks 11/16/2008 http://www.accmanpro.com/2008/11/16/my-diigo-bookmarks-11162008/ Thu, 09 Feb 2012 10:01:51 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Ed Kless http://www.accmanpro.com/2008/11/16/my-diigo-bookmarks-11162008/comment-page-1/#comment-5270 Ed Kless Mon, 17 Nov 2008 16:23:33 +0000 http://www.accmanpro.com/2008/11/16/my-diigo-bookmarks-11162008/#comment-5270 @Dennis, that was part of my point. These activities were already illegal and the system dealt with many of them quite severely. They deserve it by the way! All SOX has done is put undue burden of the vast majority of companies that were already following the law. As a result they has less money to innovate and therefore, create new wealth. (Here is one of many article on SOX from The Cato Institute --> <a href="http://www.cato.org/pub_display.php?pub_id=6624)" rel="nofollow">http://www.cato.org/pub_display.php?pub_id=6624)</a> IMHO, SOX was a $52 billion boon to the very people who created the problem by not doing their job in the first place, the accountants. @Dennis, that was part of my point. These activities were already illegal and the system dealt with many of them quite severely. They deserve it by the way!

All SOX has done is put undue burden of the vast majority of companies that were already following the law. As a result they has less money to innovate and therefore, create new wealth. (Here is one of many article on SOX from The Cato Institute –> http://www.cato.org/pub_display.php?pub_id=6624)

IMHO, SOX was a $52 billion boon to the very people who created the problem by not doing their job in the first place, the accountants.

]]> By: Dennis Howlett http://www.accmanpro.com/2008/11/16/my-diigo-bookmarks-11162008/comment-page-1/#comment-5269 Dennis Howlett Mon, 17 Nov 2008 09:21:55 +0000 http://www.accmanpro.com/2008/11/16/my-diigo-bookmarks-11162008/#comment-5269 @Ed - that's true but you can put deterrents in place that actively threaten to jail senior directors. @Ed – that's true but you can put deterrents in place that actively threaten to jail senior directors.

]]> By: Ed Kless http://www.accmanpro.com/2008/11/16/my-diigo-bookmarks-11162008/comment-page-1/#comment-5268 Ed Kless Sun, 16 Nov 2008 15:43:45 +0000 http://www.accmanpro.com/2008/11/16/my-diigo-bookmarks-11162008/#comment-5268 Re-your comment on what replaces SOX. Why does it need replacing. Everything SOX intended to prevent was and is illegal activity. Repealing SOX does not repeal the laws against fraud. SOX would not have prevented Enron, WorldCom, et al. You cannot legislate against greed. Re-your comment on what replaces SOX.

Why does it need replacing. Everything SOX intended to prevent was and is illegal activity. Repealing SOX does not repeal the laws against fraud. SOX would not have prevented Enron, WorldCom, et al.

You cannot legislate against greed.

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